Question: 6. Given the following Ending Inventory errors for the Portland Company: Year Ending Inventory Error 2020 Overstated $30 2021 Understated $70 Indicate the error in

6. Given the following Ending Inventory errors for the Portland Company:

Year Ending Inventory Error

  1. 2020 Overstated $30

  2. 2021 Understated $70

Indicate the error in the following items:

2021 Net Income 12/31/21 Retained Earnings 12/31/22 Retained Earnings

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